New Developments in the News
MAY 16, 2011
MoMA buys American Folk Museum; Florida’s public transportation loss is the rest of the country’s gain.
The Museum of Modern Art has agreed to purchase the American Folk Art Museum. The sale of the building—just down the block on West 53rd Street—will permit the folk art museum to eliminate its bond debt while giving the modern museum room to expand its exhibition space. The folk art museum will continue to make use of its smaller facility at Lincoln Square.
The Obama administration has awarded $2 billion—part of a $10 billion high-speed rail program—in grants for 22 passenger rail projects, including upgrades to Amtrak lines in the Northeast and Midwest and a new bullet train project in California. The funds were freed up when the governor of Florida canceled a fast-train project from Tampa to Orlando in February. The announcement regarding the grants drew criticism from House Republican leaders.
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